Thank you sir for taking your time to educate me on this matter. You know I have only limited myself to the practice of the dca method. I haven't had the privilege to apply the theory three practice. Hopefully in the future when I get lump sum, I'll divide it into three parts and practicalise the three practice so I will be informed and gather knowledge. For now since I only depend on my monthly income, I will continue with my differ technique (DCA) since I like buying weekly.
The technique you've been using so far is also fine for anyone, as the goal is to buy Bitcoin within your own means and with a method you can implement comfortably without any interruptions or other sacrifices. However, I'd like to remind you that you must be more consistent in implementing this method as long as you're not yet able to buy large amounts of Bitcoin at once. This is because it can only be done by people with a substantial weekly income and by business owners who consistently generate profits through their own work.
I think the best way to invest in Bitcoin is just having that methods that we feel is comfortable and sustainable to us and focusing on it, depending on the amount of discretionary income that we have available at our disposal, if we think that a strategy is good for us to keep buying and accumulating bitcoin then we could have a better chance of having a successful Bitcoin portfolio, and also trying to implement other financial strategies that could also support us have more discretionary income in our disposal to be able to stack up more bitcoin, I think we might not necessarily have a weekly income to be able to get started, and having a discretionary income could be enough for us to go that far in our bitcoin investment, we might possibly have a weekly income and don’t have a discretionary, then we can’t start, so it’s better to get started little by little with availability of discretionary income.
You have understood one very important thing, there is no substitute for discretionary income when investing in Bitcoin. The price of Bitcoin fluctuates a lot. No one can say exactly what its value will be in the future. However, the possibility of profiting from long-term investments is much higher. This can be understood by looking at past statistics and the current popularity and market value. It is increasing day by day. As a result, it can be assumed that Bitcoin will become more popular and valuable in the future. There is no alternative to discretionary income for long-term investing. Investment does not stop at how low or high an income a person has. A person can invest in Bitcoin from $10 to $100, depending on his income. A person should never sell any of their essential assets, any savings that were kept to meet basic needs, or take out a loan from a bank to invest in Bitcoin. If you invest in this type of sector, you cannot keep it for a long time. If you have any income other than your basic needs and all your monthly expenses, you can invest in Bitcoin for a long time because Bitcoin fluctuates a lot in price. Therefore, it is not possible to get the right investment for a short period of time, such as one or two years. You must continue to invest for four to ten years, following the DCA method. You must create an emergency fund and a reserve fund to solve any financial problems in times of emergency so that such problems can be solved without selling Bitcoin. This will make investing in long-term and increase the possibility of making much more profit.
By my little understanding of going through what have been said here in a little time I’ve come to understand that starting investment in Bitcoin is quite easy when we have a discretionary income and also having that source of income, and we don’t even require so much money to be investing in bitcoin, starting with a little amount isn’t bad, as most investors would think that everyone would have to start very big, which isn’t a mandatory that we should all buy bitcoin in a large quantity.
Buying through the DCA is quite enough for me right now and trying to accumulate and buy bitcoin fraction by fraction, I might possibly not have $100 dollars to buy bitcoin every week, but I can still be buying my bitcoin $50 on a weekly basis when I have my discretionary income, hoping to also increase my finances and also working on my finance so I can be able to buy and accumulate more bitcoin into my bitcoin portfolio, everyone eventually knows how they feel comfortable.